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This is a Bill, not an Act. For current law, see the Acts databases.
Western Australia
Revenue Laws Amendment Bill 2010
CONTENTS
Part 1 -- Preliminary
1. Short title 2
2. Commencement 2
Part 2 -- Duties Act 2008 amended
3. Act amended 3
4. Section 127 amended 3
5. Section 260 amended 3
6. Schedule 3 Division 4 inserted 3
Division 4 -- Provisions for Revenue Laws
Amendment Act 2010 section 5
31. Terms used in this Division 3
32. Certain relevant reconstruction
transactions 4
Part 3 -- Duties Legislation
Amendment Act 2008 amended
Division 1 -- Duties Legislation Amendment
Act 2008 amended
7. Act amended 5
8. Section 2 amended 5
9. Part 2 Division 2 Subdivision 3 heading amended 5
Division 2 -- Consequential amendments
10 . Act amended 5
11 . Schedule 3 clause 30 amended 5
Division 3 -- Expiry of Part 3
12 . Expiry of Part 3 6
116--1 page i
Western Australia
LEGISLATIVE ASSEMBLY
Revenue Laws Amendment Bill 2010
A Bill for
An Act to --
• amend the Duties Act 2008; and
• amend the Duties Legislation Amendment Act 2008,
and for related matters.
The Parliament of Western Australia enacts as follows:
page 1
Revenue Laws Amendment Bill 2010
Part 1 Preliminary
s. 1
1 Part 1 -- Preliminary
2 1. Short title
3 This is the Revenue Laws Amendment Act 2010.
4 2. Commencement
5 This Act comes into operation as follows --
6 (a) Parts 1 and Part 3 Division 3 and section 3 -- on the day
7 on which this Act receives the Royal Assent (assent
8 day);
9 (b) Part 3 Divisions 1 and 2 --
10 (i) on assent day, if assent day is before 1 July 2010;
11 or
12 (ii) immediately before the commencement of the
13 Duties Legislation Amendment Act 2008 Part 2
14 Division 2 Subdivision 3, if assent day is on
15 1 July 2010;
16 (c) section 4 -- on the day after assent day;
17 (d) sections 5 and 6 -- are deemed to have come into
18 operation on 10 March 2010.
page 2
Revenue Laws Amendment Bill 2010
Duties Act 2008 amended Part 2
s. 3
1 Part 2 -- Duties Act 2008 amended
2 3. Act amended
3 This Part amends the Duties Act 2008.
4 4. Section 127 amended
5 In section 127:
6 (a) in paragraph (b) delete "fund." and insert:
7
8 fund; and
9
10 (b) after paragraph (b) insert:
11
12 (c) there is, or will be, no consideration for the
13 transfer or agreement.
14
15 5. Section 260 amended
16 (1) Delete section 260(1)(c).
17 (2) In section 260(4) delete "subsection (1)(c) or (d)" and insert:
18
19 subsection (1)(d)
20
21 6. Schedule 3 Division 4 inserted
22 At the end of Schedule 3 Division 3 insert:
23
24 Division 4 -- Provisions for Revenue Laws Amendment
25 Act 2010 section 5
26 31. Terms used in this Division
27 When this Division uses a term that is used in Chapter 6, the
28 term has the same meaning in this Division as it has in
29 Chapter 6.
page 3
Revenue Laws Amendment Bill 2010
Part 2 Duties Act 2008 amended
s. 6
1 32. Certain relevant reconstruction transactions
2 (1) An exemption cannot be granted in respect of an acquisition
3 if --
4 (a) the acquisition took place on or after the day on
5 which the Revenue Laws Amendment Act 2010
6 section 5 is deemed to have come into operation;
7 and
8 (b) as a result of the amendment effected by that
9 section, the acquisition is no longer a relevant
10 reconstruction transaction.
11 (2) Subclause (1) applies even if --
12 (a) before the day on which the Revenue Laws
13 Amendment Act 2010 receives the Royal Assent, an
14 application for an exemption in respect of the
15 acquisition was --
16 (i) made; or
17 (ii) made and dealt with;
18 or
19 (b) a decision to the contrary in relation to the
20 acquisition was made by the Commissioner on a
21 pre-transaction decision request under section 261.
22 (3) The Commissioner --
23 (a) is not bound by a decision referred to in
24 subclause (2)(b); and
25 (b) must make any reassessment the Commissioner
26 considers necessary to give effect to the amendment
27 effected by the Revenue Laws Amendment Act 2010
28 section 5 and this clause.
29
page 4
Revenue Laws Amendment Bill 2010
Duties Legislation Amendment Act 2008 amended Part 3
Duties Legislation Amendment Act 2008 amended Division 1
s. 7
1 Part 3 -- Duties Legislation Amendment
2 Act 2008 amended
3 Division 1 -- Duties Legislation Amendment Act 2008 amended
4 7. Act amended
5 This Division amends the Duties Legislation Amendment
6 Act 2008.
7 8. Section 2 amended
8 In section 2(c) delete "2010;" and insert:
9
10 2013;
11
12 9. Part 2 Division 2 Subdivision 3 heading amended
13 In the heading to Part 2 Division 2 Subdivision 3 delete "2010"
14 and insert:
15
16 2013
17
18 Division 2 -- Consequential amendments
19 10. Act amended
20 This Division amends the Duties Act 2008.
21 11. Schedule 3 clause 30 amended
22 (1) In Schedule 3 clause 30(1) delete "2010." and insert:
23
24 2013.
25
page 5
Revenue Laws Amendment Bill 2010
Part 3 Duties Legislation Amendment Act 2008 amended
Division 3 Expiry of Part 3
s. 12
1 (2) In Schedule 3 clause 30(2) delete "section" (first occurrence)
2 and insert:
3
4 clause
5
6 (3) After Schedule 3 clause 30(2) insert:
7
8 (3) A transaction that takes place on or after 1 July 2013 is to be
9 taken to have taken place before 1 July 2013 for the
10 purposes of this clause if --
11 (a) the transaction is made in accordance with an
12 arrangement made before 1 July 2013; and
13 (b) the sole or principal purpose of the arrangement was
14 to defer the transaction until 1 July 2013 or later so
15 that the provisions of this Act would not apply to
16 the transaction until amended or repealed by the
17 Duties Legislation Amendment Act 2008 Part 2
18 Division 2 Subdivision 3.
19
20 Division 3 -- Expiry of Part 3
21 12. Expiry of Part 3
22 This Part expires if Divisions 1 and 2 have not come into
23 operation on or before 1 July 2010.
24
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